Question 21 1 pts This is the second year of operation for Guaranty Company, which it is an accrual basis corporation. Federal income tax rate is 40%. There is no state income tax. The balance in the warranty liability account was $2,000 at the end of 2019. The company had these account balances at the end of 2020. Cash $60,000 Other assets 50,000 Warranty liability 5,000 Common stock 45,000 Revenue 200,000 Warranty expense $20,000 Other expense 120.000 Totals $250,000 $250,000 What is the amount of taxable income reported by Guaranty Company for 2020? $ 65,000 $ 60,000 $ 63.000 $ 66,000